OPEC Daily Basket Price Stood at $83.4 a Barrel Tuesday The price of OPEC basket of 13 crudes stood at $83.4 a barrel on Tuesday, November 28, 2023, compared with $82.75 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes, ORB, is made up of the following: Saharan Blend (Algeria),…
Greek Ferry Collides with Tanker During Arrival in Patras The winter storm that impacted Greece and the Aegean over the weekend had significant repercussions on shipping operations, leading to schedule changes and diversions. One notable incident resulting from the severe weather was the sinking of the cargo ship Raptor. The adverse conditions also contributed to…
Experts say Nigeria Needs to Export Higher LNG Volumes Kayode Oluwadare, a Regional Energy Partner and Director at Energy Compact, has suggested that Nigeria should focus on exporting higher LNG volumes to Germany and explore additional markets to meet the growing global demand for LNG. He noted that the current global demand for LNG is…
NOSDRA Confirms ‘Total Energies’ Egina Spill Exceeded 3,000 Barrels of Oil The National Oil Spills Detection and Response Agency (NOSDRA) has verified that the Egina Floating Production Storage and Offloading (FPSO) vessel, operated by TotalEnergies, experienced a spill of more than 3,000 barrels of crude oil on November 15, 2023. Situated 130 kilometers off the…
Women Energy Group Expresses Concerns Regarding Gas Flaring Practices The International Forum for Women in Energy, Oil, and Gas (WEOG) has opposed the ongoing practice of gas flaring in the Niger Delta Region. In response, the forum has urged the government to implement policies, monitoring, and evaluation measures to effectively cease the flaring of gas…
African Oil & Gas Sector and Global Dynamics- Key Shifts in 2023 The gap between Africa and the rest of the world persists concerning the continent’s efforts to establish closer ties to energy markets in Europe and beyond, as well as to advance the development of its own hydrocarbon resources. The Russian invasion of Ukraine…
Oil Prices Decline in Anticipation of Upcoming OPEC Meeting On Monday, the price of crude oil experienced a decline as investors awaited the upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC) later in the week to determine whether there would be an agreement to limit supplies into the following year. Brent crude…
Middle East Tanker Secured from Attackers Following Swift Response by U.S. Navy, Officials Report A commercial tanker that had been held over by armed individuals in the Gulf of Aden sent a distress call, and the U.S. Navy warship reacted. According to U.S. officials on Sunday, the tanker is secure. The company operating the tanker…
UK Energy Regulator Unveils 5% Rise in Energy Price Cap UK energy regulator, Ofgem has announced a 5% increase in the energy price cap for the first quarter of 2024, from January 01 to March 31. According to a statement obtained from the Ofgem website, an average household paying by direct debit for dual fuel…
HYPREP Empowers 2,000 Ogoni Youths Through Shoreline Remediation Training The Hydrocarbon Pollution Remediation Project, HYPREP has commenced the training of over 2,000 Ogoni youths on shoreline remediation, mangrove restoration, and oil spill response, who will serve as community workers and support staff to 34 shoreline contractors handling the complex polluted sites in Ogoniland. The training…
